According to Reuters, MercadoLibre is likely to maintain its plan to invest around BRL 4 billion in Brazil in 2020, since the rise in e-commerce caused by social isolation measures against COVID-19 should offset the negative effects of coronavirus in its main market, said a company executive.

The largest e-commerce portal in Latin America, MercadoLibre informed this Tuesday, during its Q1 Results disclosure, that it saw a strong retraction in demand in the second half of March, but that the movement resumed strongly in April, with more and more consumers buying more over the internet.

The company claims to have hired 200 employees and another 2,500 third parties since the second half of March to reinforce its logistics team and to account for the increased volume of deliveries.